WEX (NYSE:WEX) has been given a $260.00 target price by stock analysts at Citigroup in a report released on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the business services provider’s stock. Citigroup‘s price objective points to a potential upside of 17.64% from the company’s current price.
Other research analysts have also recently issued research reports about the company. BTIG Research increased their price objective on WEX from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. ValuEngine raised WEX from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. Barclays increased their price objective on WEX from $222.00 to $238.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Jefferies Financial Group cut Alcoa from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $29.00 to $23.00 in a research note on Thursday, July 18th. Finally, Zacks Investment Research cut Zai Lab from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $221.31.
NYSE:WEX traded up $3.00 during midday trading on Friday, hitting $221.02. The stock had a trading volume of 201,903 shares, compared to its average volume of 330,213. WEX has a one year low of $131.35 and a one year high of $221.66. The stock has a market capitalization of $9.43 billion, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 1.71 and a beta of 1.53. The company’s 50-day simple moving average is $207.32. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.55.
WEX (NYSE:WEX) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.19. WEX had a return on equity of 17.88% and a net margin of 8.84%. The company had revenue of $381.90 million for the quarter, compared to analysts’ expectations of $379.57 million. During the same quarter in the prior year, the firm earned $1.81 earnings per share. WEX’s revenue was up 7.9% compared to the same quarter last year. As a group, research analysts predict that WEX will post 8.62 EPS for the current year.
In other WEX news, insider Hilary A. Rapkin sold 1,404 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $205.00, for a total transaction of $287,820.00. Following the sale, the insider now owns 13,718 shares of the company’s stock, valued at approximately $2,812,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Roberto Simon sold 9,921 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $202.00, for a total value of $2,004,042.00. Following the sale, the chief financial officer now directly owns 9,251 shares in the company, valued at approximately $1,868,702. The disclosure for this sale can be found here. Insiders have sold a total of 44,267 shares of company stock worth $8,960,178 in the last ninety days. Insiders own 1.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in WEX. JPMorgan Chase & Co. boosted its position in WEX by 37.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,141,383 shares of the business services provider’s stock valued at $219,135,000 after acquiring an additional 311,484 shares in the last quarter. Norges Bank bought a new stake in WEX during the 4th quarter valued at $32,492,000. FMR LLC boosted its position in WEX by 124.1% during the 4th quarter. FMR LLC now owns 398,482 shares of the business services provider’s stock valued at $55,811,000 after acquiring an additional 220,688 shares in the last quarter. Wells Fargo & Company MN boosted its position in WEX by 17.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,357,772 shares of the business services provider’s stock valued at $260,680,000 after acquiring an additional 202,492 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in WEX during the 1st quarter valued at $33,846,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.
WEX Inc provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services.
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